The introduction of new store initiatives has seen Asda improve its market share over the last quarter, group owner Walmart has announced.
According to a Wal-Mart chief, organic food ranges and new pet and baby departments, have seen sales in “the high single digits” whereas rival store sales were in the “low single digits” for the same period.
Wal-Mart finance chief Charles Holley said at a conference to discuss the group’s results: “Compared with the third quarter last year, an additional one million customers have started shopping at Asda, which is a reflection of the improvement in pricing, assortment and customer experience.”
“The result has been increased market share in the past 12 weeks. There's more to come, and we are encouraged about the fourth quarter.”
Last year the retailer experienced its largest fall in pre-tax profits since Wal-Mart took over in 1999, dropping to £571.9 million from £629.8m in 2004, despite sales at the chain increasing to £14.9billion from £14.3bn in the year ending December 31.
“For a business like ours that’s used to outperforming the industry, our performance wasn't good enough. But don't forget last year we still made more profit than Sainsbury’s and Wm Morrison combined.” a spokesman for Asda told the Telegraph.
“The business is now back on track. We have added an extra million customers in the last year.”
As part of its restructuring under ceo Andy Bond, the Telegraph said the chain is focusing on increasing availability in stores, improving fresh food and expanding its premium and organic ranges.
Asda also plans to cash in on the boom in Internet shopping by almost doubling the number of stores with online services, according to the newspaper.
